Math Example:
$1000 in Property Tax = $16,000 in purchases with a 6.25% sales tax
but we already pay 6.25% state sales tax
so...
Would the sales tax rate need to double?
Real world question:
If the sales tax doubled, would you buy less or simple buy more from out of state?
Comment:
I don't like the fact that property taxes are like renting my own house from the state.
I despise the idea of a Texas State Income Tax.
The state of Texas needs some level of revenue to perform valid state functions.
I don't have a solution to this problem.
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Return to “Abolishing Property Tax?”
- Tue Nov 27, 2012 12:03 pm
- Forum: 2013 Texas Legislative Session
- Topic: Abolishing Property Tax?
- Replies: 25
- Views: 14430
- Tue Nov 27, 2012 8:19 am
- Forum: 2013 Texas Legislative Session
- Topic: Abolishing Property Tax?
- Replies: 25
- Views: 14430
Re: Abolishing Property Tax?
The plan is to replace Property Tax revenue with an increase in Sales Tax.